RDA Financial Network Sells 899 Shares of Blackstone Inc. (NYSE:BX)

RDA Financial Network decreased its position in shares of Blackstone Inc. (NYSE:BX) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,024 shares of the asset manager’s stock after selling 899 shares during the period. RDA Financial Network’s holdings in Blackstone were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BX. Glen Eagle Advisors LLC grew its holdings in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its holdings in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its position in shares of Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on BX shares. Keefe, Bruyette & Woods dropped their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Wells Fargo & Company lowered their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group raised their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Trading Up 0.9 %

Shares of NYSE:BX opened at $176.68 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $127.56 billion, a price-to-earnings ratio of 60.71, a PEG ratio of 1.02 and a beta of 1.53. The company’s fifty day simple moving average is $180.67 and its 200 day simple moving average is $157.71. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, research analysts forecast that Blackstone Inc. will post 4.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.